CALM BEFORE THE STORM

The Philippine Star
12/29/08

In a few days, we will leave behind 2008. Except for the rice shortage that affected us mid-year and the rise in gasoline, diesel and LPG prices during the first half of the year, our countrymen have yet largely been spared of the pain of the ongoing global recession that is affecting many parts of the world.

In recent weeks, we have experienced the return of the P30++ per liter of gasoline, allowing us to enjoy coasting our roads without minding how much fuel our cars are guzzling.

But I fear this to be the calm before the storm.

Whether or not we will be whipped in the coming year (or even years) by the dark clouds gathering in the horizon, best be prepared. As my father would always say, “hope for the best but be prepared for the worst.”

Already, we hear talks of our overseas workers being sent home. Many semi-conductor manufacturers are already observing three- or four-day work weeks for staff.

And it is not difficult to understand why all of these are happening, given the massive lay-offs happening in the U.S. Only recently, the giant automotive firm, Toyota, had issued once again grim notice of further slashes in expected profits in 2009.

Half the countries in the world are already admitting to negative growth, and central banks across continents are slashing interest rates and pouring trillions of dollars to pump-prime the economy.

On this note, it seems inappropriate and frivolous to wish for a Happy New Year. And so, I tweak my greeting to each and every Filipino family, that they may find the inner strength to weather the coming storm – hoping for the best but preparing for the worst.

Now, more than ever, let us keep our faith – and wits – such that we will be able to rely on our vaunted resiliency to pull us through tougher times. May we continue to be showered with blessings and hope as we may go through the coming year.

Should you wish to share any insights, write me at Link Edge, 25th Floor, 139 Corporate Center, Valero Street, SalcedoVillage, 1227 MakatiCity. Or e-mail me at reydgamboa@yahoo.com. For a compilation of previous articles, visit www.BizlinksPhilippines.net.